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Zambia’s Credit Rating Outlook Cut to Negative by S&P

Standard & Poor’s cut its credit rating outlook for Zambia, Africa’s biggest copper producer, to negative, saying growth in the government’s planned spending for next year will boost debt.

The ratings agency affirmed its ’B+’ long-term and ’B’ short-term ratings for government debt, saying there was a more than one-in-three chance it could downgrade if the country’s financial situation deteriorated.